The Indian induction furnace grade re-bar market observed limited buying enquiries and trading activity across regions on 20 Aug’21. Despite limited demand in most markets, manufacturers kept offers stable, while adjusting tradable prices marginally as per quantity and payment terms. In western India, and in a few other markets, moderate transactions have happened in the last couple of days, lending support to sellers in keeping offers stable. Rising inventories at mills, dull demand along with a correction in semi-finished steel prices today indicate that a marginal correction in TMT prices is likely in the near term, sources informed.
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